1. Suppose Canadian homeowners owe an average of $196,000 on their mortgages. Assume that mortgage debt is normally distributed in Canada with a standard deviation of $94,000.

Standard Normal Distribution Table

a. Albertans are reported to owe $246,100 in mortgage debt, much higher than the Canadian average. What is the probability of randomly selecting a Canadian with mortgage debt that exceeds $246,100?

Round to four decimal places if necessary

b. What is the probability of randomly selecting a Canadian with mortgage debt below $93,000?

Round to four decimal places if necessary

c. Determine the minimum mortgage debt owing by the 18% of Canadians with the largest mortgages.

Round to the nearest dollar

2. Find the z-values corresponding to the given measures of position, assuming that Z is a continuous random variable that follows a standard normal distribution.

Standard Normal Distribution Table

a. The range of values of the bottom 26% of the data. z < b. The range of values of the middle 18% of the data. < z <

3. The average lifespan of a CleanFreek dishwasher is normally distributed with a mean of 8 years and a standard deviation of 1.9 years.

Standard Normal Distribution Table a. What is the probability that a CleanFreek dishwasher will last longer than 12 years? P(X > 12)=

b. What is the probability that a CleanFreek dishwasher will last fewer than 8 years? P(X < 8)=

c. What length warranty should be established on the dishwashers so that no more than 1.6% of the units will need to be replaced under warranty? x= years Round to 2 decimal places.

4. The average daily rate of a hotel in Canada as of August 2018 was $183.55. Assume the average daily rate follows a normal distribution with a standard deviation of $21.50.

Standard Normal Distribution Table a. What is the probability that the average daily rate of a Canadian hotel will be:

(i) less than $170 P(X < 170)=

(ii) more than $210 P(X > 210)=

(iii) Between $150 and $185 P(150 < X < 185)= b. Determine the average daily rates that separate the:

(i) top 4% of average daily rates from the rest of the daily rates or from the bottom 96% of average daily rates x= Round to 2 decimal places.

(ii) bottom 25% of average daily rates from the rest of the daily rates x= Round to 2 decimal places.

(iii) middle 65% of average daily rates from the rest of the daily rates < x < Round to 2 decimal places.